Financial advisors must look for flexibility in spending, taxation and government benefits
Advisors might work to factor in the projected costs for caregiving when drafting clients’ retirement plan, CIBC report suggests
More than half of Canadians aged 45-64 are currently caring for children, aging relatives, or both
Advisors can provide valuable counter-balance when boomerang children lean on aging parents
Planning for clients who will be retired parents of dependent children
High youth unemployment a burden for boomer parents that help out
Middle-aged investors facing multigenerational family responsibilities
Canadians challenged to address children’s education, aging parents and own retirement needs
Jason Round, head of financial planning support, RBC Financial Planning, discusses how an advisor can develop a caregiving plan that can help boomer clients cope with the financial and emotional aspects of caring for aging parents. He spoke with Investment Executive reporter Olivia Li, at the TMX Broadcast Centre in Toronto.
Help sandwich generation clients deal with the financial drain of supporting adult children